Business conditions rebound to near pre-GFC levels
The improved business environment was reported across all states in December, with long-suffering Western Australia posting the biggest improvement, followed by Victoria.
Powerhouse NSW remained in top spot for the mainland states, where it has been for most of the past 18 months.
South Australia, despite recent improvements, is still recording a negative reading.
The result will likely reinforce the Reserve Bank’s resolve to keep the official cash rate at 1.5 per cent next week and in coming months, as it awaits more evidence that the global economy is set to rebound in 2017.
Article source: News Source